Question: How will a new law mandating an increase in required levels of automobile insurance affect the equilibrium price and quantity in the market for new

How will a new law mandating an increase in required levels of automobile insurance affect the equilibrium price and quantity in the market for new automobiles?

Multiple Choice

Equilibrium price will fall; quantity will fall.

Equilibrium price will fall; quantity will rise

Equilibrium price will rise; quantity will rise

Equilibrium price will rise; quantity will fall.

How will a new law mandating an increase in

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